1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Akimi4 [234]
3 years ago
8

You have decided to start saving for college and open up a 529 account. You invest $5,000 into the account at a 2% interest rate

compounded monthly. How much money will you have after 5 years?
$5,520.40
$5,525.39
$6,744.25
$16,405.15
Mathematics
1 answer:
raketka [301]3 years ago
6 0

You will have $5,525.39 after 5 years.

Because the interest is compounded monthly, you need to convert the interest rate and the term of investment to a monthly basis.

Monthly interest = 2% / 12 = 2/12%

Term of investment = 5 x 12 = 60 months

To find the amount you will have in 5 years, use the formula:

<em>Future value = Amount * ( 1 + interest) ^ term of investment </em>

= 5,000 x ( 1 + 2/12%)⁶⁰

= $5,525.39

In conclusion, your investment will have compounded to $5,525.39 in 5 years.

<em>Find out more at brainly.com/question/3473483.</em>

You might be interested in
julian's height is 7 inches less than his sisters his sister's is unknown what is julian's height use x for his sister's height
Marat540 [252]

Answer:

x - 7

Step-by-step explanation:

Because Julian is 7 inches shorter than his sister, and his sister's height is x, if we subtract 7 from x, we get Julian's height, x - 7.

7 0
2 years ago
Read 2 more answers
Use a net to find the surface area of the right triangular prism shown:
vazorg [7]

The surface area of the right triangular prism is 270 sq ft

<h3>Total surface ara of the prism</h3>

The total surface area of the prism is the  sum of all the area of its faces

For the two triangles

A = 2(0.5bh)

A = bh

A = 7 * 12 = 84 sq.ft

For the two rectangles

A = 2lw

A = 2(6*12)

A = 2 * 72 = 144 sq.ft

For the third triangle;
Area  6ft * 7ft

Area = 42 sq.feet

Taking the sum of the areas

TSA = 84 + 144 + 42

TSA  = 270 sq ft

Hence the surface area of the right triangular prism is 270 sq ft

Learn more on surface area of prism here; brainly.com/question/1297098

3 0
2 years ago
This is hard please help it makes no sense
tigry1 [53]

Answer:

lk12

Step-by-step explanation:

3 0
2 years ago
Read 2 more answers
Which of the following is not a promotional tactic used by a seller?
Leviafan [203]

Answer:

we conclude that the 'bait and switch' technique is not a promotional tactic used by a seller.

Hence, 'a' is the correct option.

Step-by-step explanation:

From the given options, the 'bait and switch' technique is not a promotional tactic used by a seller.

'Bait and switch' is a deceptive sale practice using which the sells try to attract (bait) the customers by offering attractive prices on certain items, but when the customers tend to go to the shop to buy the items, they witness the unavailability of the goods, or find the prices go higher compared to what they had been offered.

Now, since the customers are already present at the shop, the sellers try to pressurize the customer so that they could buy something else.

Therefore, we conclude that the 'bait and switch' technique is not a promotional tactic used by a seller.

Hence, 'a' is the correct option.

6 0
2 years ago
Read 2 more answers
The measurement around the trunk of a tree just below shoulder height is called girth. The largest known american beech tree in
Bumek [7]

Answer:

24 1/6 - 19 5/12=

24 1/6÷12- 19 5/12÷12

24 2/2- 19 5/1= 5 3/1

3÷1= 3

5÷3= 3 1/2

Step-by-step explanation:

Step 1: Do the lcd and the number in between what you do is multiply the number next to it.

Step 2: Then subtract the mixed numbers and you get your answer.

Step 3: Divide 3 by 1

Step 4: Divide 3 by 5 and answer is 3 1/2

3 0
3 years ago
Other questions:
  • 1. Which expressions is the prime factorization of 90
    7·2 answers
  • What is the slope of the line that passes through the points
    6·1 answer
  • The value of 9 in 456,790.
    6·1 answer
  • X + 1 + 2x+2=78 solve multi step equation
    8·1 answer
  • Y = 2f(g(x))
    8·1 answer
  • Answer it pls and no memes
    10·2 answers
  • at the great hair barber shop nita and joe do a total of 95 haircuts each week. if nita does 16 fewer than twice as many as joe,
    9·1 answer
  • PLEASE SOMEONE, I NEED TO PASS !
    12·2 answers
  • Find the value of X. Write your
    5·1 answer
  • Calculate problems one and two.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!